Quick facts: Brooklyn, NY

Quick Facts

113.7
Cost of Living
above US average
2,590,516
Population
4.01
Crime Rate per 1000
below US average
$74,692
Median Income
below US average
$1,695,000
Median House Price
above US average
$6176.83
Average Rent
above US average
20%
Poverty Rate
above US average
5.6%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $74,692.

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Income Needed to Buy

βœ— Stretch
$532k/year
Based on $1,695,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $532k vs median $74,692
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Income Needed to Rent

⚠ Stretch
$265k/year
Based on $6176.83/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $265k vs median $74,692
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Brooklyn, NY

Brooklyn, New York, is one of the five boroughs of New York City, known for its vibrant culture, diverse communities, and rich history. It is located on the western end of Long Island and is the most populous borough, with over 2.5 million residents. Brooklyn is famous for its iconic landmarks, such as the Brooklyn Bridge, Coney Island, and Prospect Park, which offer recreational spaces and scenic views. The borough boasts a thriving arts scene, with neighborhoods like Williamsburg and DUMBO home to galleries, music venues, and creative spaces. Brooklyn’s culinary landscape is equally diverse, featuring everything from world-renowned pizzerias to trendy farm-to-table restaurants. Culturally rich, Brooklyn is a melting pot of ethnicities, reflected in its neighborhoods like Brighton Beach (often called "Little Odessa") and Crown Heights. The borough is also known for its historic architecture, including brownstones and waterfront buildings. Transportation is convenient, with multiple subway lines and ferry services connecting Brooklyn to Manhattan and beyond. With its blend of urban life, artistic expression, and community spirit, Brooklyn continues to be a dynamic and influential part of New York City.

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